Hotel Deal of the Year Awards Presented at the Caribbean Hotel & Resort Investment Summit
Winners of the prestigious Development of the Year and Single Asset Transaction of the Year Awards were announced at the Caribbean Hotel & Resort Investment Summit (CHRIS). CHRIS was held April 27-28, 2015, at the JW Marriott Marquis Hotel Miami in Miami, Florida, USA.
Hyatt Ziva Rose Hall & Hyatt Zilara Rose Hall, in Montego Bay, Jamaica, was named Development of the Year 2014. With 621 keys, the redevelopment and expansion of the former Ritz Carlton Golf & Spa Resort, Rose Hall, Jamaica came at a cost of roughly $90 million. The property is owned and operated by Playa Hotels & Resorts. Finalists in the Development of the Year 2014 category also included the JW Marriott Santo Domingo, in the Dominican Republic, and The Residences by Grace Bay Resorts, in Providenciales, Turks & Caicos.
The One&Only Ocean Club, Paradise Island, in the Bahamas, was named Single Asset Transaction of the Year 2014. With 105 keys, the property was sold to Access Industries by Brookfield Asset Management for US$137 million ($1.3 million per key). The transaction was brokered by Solid Rock Advisors. The additional finalists in the Single Asset Transaction of the Year 2014 were the British Colonial Properties (British Colonial Hilton), in New Providence Island, The Bahamas, and the Hilton Rose Hall Hotel & Spa, in Montego Bay, Jamaica.
Liam J. Day chaired the Development of the Year Award committee and Kent Schwarz chaired the Single Asset Transaction of the Year Award committee. The two committees were comprised of hotel industry leaders who selected, reviewed, and nominated deals. The finalist information was then sent to the CHRIS delegates for voting.
CHRIS is the Caribbean's most important hotel and tourism investment conference. The Caribbean region is showing signs of recovery, and there may be no better time to focus on the investment opportunities. CHRIS immediately precedes a second important event, the Hotel Opportunities Latin America (HOLA) conference. The back-to-back nature of the two events is an efficient way for the hotel investment community that is interested not only in the Caribbean, but also in Latin America, to conduct their business while in Miami. CHRIS is hosted by Burba Hotel Network (BHN).
For additional information on the CHRIS conference visit: www.CHRISconference.com.
About BHN
With over three decades of experience, more than 150 events completed to-date, and in excess of 100,000 international delegates, BHN conferences have become "must attend" events for industry leaders who come together to network, conduct business, and to learn about the latest trends. BHN events include: the Americas Lodging Investment Summit (ALIS) in Los Angeles; ALIS Law in Los Angeles; ALIS Summer Update; Alternative Ownership Conference Asia Pacific (AOCAP) in Singapore; Caribbean Hotel & Resort Investment Summit (CHRIS) in Miami; Hotel Investment Conference Asia Pacific (HICAP) in Hong Kong; HICAP UPDATE in Singapore; Hotel Investment Forum India (HIFI) in Mumbai; Hotel Opportunities Latin America (HOLA) conference in Miami; Hotel Investment Conference Europe (Hot.E) in London; and HotelsWorld in Sydney. The BHN website at www.Burba.com is the gateway for information about the conferences BHN produces, as well as a direct link to important players in the hospitality investment world. BHN is a division of Northstar Travel Group.
